New Delhi [India], Feb. 21 : After relentless debates have been underway discussing the impact of demonetisation, HDFC Bank Chairman Deepak Parekh on Tuesday stated that it is high time this discussion ended, while casting his vote in Mumbai today in the BMC polls.

Speaking to ANI outside the polling booth, Parekh revealed that demonetisation is a beneficial initiative and will have a positive outcome on the economy in the long run. "Demonetisation is just one out of the Government's many plans drafted towards the development of this country. It was necessary to eradicate black money and has come at the right stage in our country's economic growth," revealed Parekh.

New Delhi [India], Jan 18 : The market on Wednesday opened higher amid the global uncertainty. The Sensex traded up 71.48 points or 0.3 percent at 27307.14 and the Nifty traded up 22.40 points or 0.3 percent at 8420.40.

Shares such as Tata Motors, HDFc, Axis Bank, Cipla and Tata Steel are top gainers while Coal India, ICICI Bank, Bajaj Auto, Lupin and HUL are losers in the Sensex.

The Indian rupee opened marginally higher at 67.93 per dollar on Wednesday versus previous close of 67.95 against the US dollar. The dollar fell to a four-week low, moving lower against all group of 10 currencies with sterling leading the charge.

After a soothing speech on Brexit from British Prime Minister Theresa May triggered the pound's largest one-day percentage gain since 2008.

Mumbai: Country's largest lender by market value HDFC Bank on Thursday raised Rs 9,880 crore in the largest share sale in the secondary market by a private entity to overseas and domestic investors through a mix of qualified institutional placement and American depository shares.

Merchant bankers said the issue has been successfully closed and the final pricing is expected shortly.

According to merchant bankers who include Barclays, JM Financial, Citi, JP Morgan and BofA-ML among others, said the bank opened the QIP issue first and the ADR was launched a few hours later.

The bank has plans to raise Rs 2,400 crore from QIP and the rest from ADRs, but sources said the composition got changed after the sale began.

Tight cost control allowed private sector lender HDFC Bank to report an impressive increase of 25.1 per cent in net profit for the October to December quarter of 2013.

The country's second biggest private sector lender on Friday reported a net profit of Rs 2,325.70 crore for the three months ended December 31, 2013, as against Rs 1,859.07 crore in the corresponding three-month period of 2012. Net profit for the nine months through December 31 jumped 27.2 per cent, from Rs 4836.44 crore to Rs 6,151.9 crore.

Shares of HDFC Bank gained nearly one per cent in morning trade on Wednesday, thanks to the bank's confirmation that it has filed an application with the Foreign Investment Promotion Board (FIPB) seeking permission for hiking foreign shareholding limit in the bank.

The application was filed in wake of the Reserve Bank of India's recent notification, in which it restricted FIIs from purchasing additional shares in the private sector bank as their shareholding had already exceeded the limit.

HDFC Bank, India's second-largest private sector lender, on Wednesday reported an impressive year-on-year jump of 30 per cent in net profit for the April-June, thanks to strong loan growth and a sharp rise in other income.

The private sector lender said its net profit jumped from Rs 1,417.39 crore in the April-June quarter of 2012 to Rs 1,843.86 crore in the same quarter of 2013.

Mr. Parekh also warned home buyers against schemes where property developers claim of paying interest on the borrowers' loans. He said that borrowers must not believe that developers' offers to pay interest on a borrower's loan for a specified period would be without a risk.

The central bank imposed a fine of Rs 5 crore on Axis Bank, and of Rs 4.5 crore and Rs 1 crore on HDFC Bank and ICICI Bank, respectively.

A statement released by the central bank stated, "After considering the facts of each case ... Reserve Bank came to conclusion that some of the violations were substantiated and warranted imposition of monetary penalty..."